62 LAWS OF MARYLAND. [CH. 36

(5) Tangible personal property belonging to any ordinary
business corporation, domestic or foreign.

(6) Intangible personal property subject to taxation under
Section 8 1/2.

SEC. 8. And be it further enacted, That a new section be
and the same is hereby added to Article 81 of the Annotated
Code of Maryland (1939 Edition), title "Revenue and Taxes",
sub-title "What Shall be Taxed and Where", said new section
to follow immediately after Section 8 of said Article, to be
known as Section 8 1/2, and to read as follows:

8 1/2. (a) Whenever any corporation is entitled under
a contract with this State to an exemption from any ordi-
nary or special state, county or city tax imposed by this
Article or by any other Article of the Code of Public Gen-
eral Laws, such corporation shall be subject to taxation
as provided in this section unless prior to September 1,
1941, such corporation shall have delivered to the Secretary
of State of this State a duly authorized instrument in writing
electing to surrender its right to all exemptions from ordinary
and special State, county and city taxes to which it may be
entitled under any such contract.

(b) All real property and tangible personal property lo-
cated in this State, owned by such corporation and not subject
to ordinary taxes tinder any other provision of this Article^
shall be subject to assessment to such corporation and taxation
for ordinary State and county and/or city taxes in the county
and/or city in which such property is located, except taxes
thereon from which such corporation is entitled to exemption
under such contract.

(c) All interests, shares and proportions, owned by such
corporation and not subject to ordinary taxes under any other
provisions of this Article, in all ships or other vessels, includ-
ing aircraft, which have not an actual situs for taxation out-
side this State, whether such ships or other vessels are in or
out of port, all bonds, certificates of indebtedness or evidences
of debt, owned by such corporation and not subject to ordinary
taxes under any other provision of this Article, in whatsoever
form made or issued by any public or private corporation
or made or issued by any State, territory, district, possession
or foreign country, all mortgages, owned by such corporation
and not subject to ordinary taxes under any other provision
of this Article, all shares of stock or shares in any corporation,
owned by such corporation and not subject to ordinary taxes
under any other provision of this Article, and all other in-
vestments in any corporation, including advances to any cor-
poration, owned by such corporation and not subject to ordi-